On Jan. 1, 2015, Carter Sales issued $15,000 in bonds for $14,700. They were 6-year...
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On Jan. 1, 2015, Carter Sales issued $15,000 in bonds for $14,700. They were 6-year bonds with a stated rate of 9%, and pay semiannual interest. Carter Sales uses the straight-line method to amortize the bond discount. On June 30, 2015, when Carter makes the first payment to bondholders, how much will they report as interest expense?
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